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Declining Discount Rates: The Long and the Short of it
Environmental & Resource Economics, 2005The last few years have witnessed important advances in our understanding of time preference and social discounting. In particular, several rationales for the use of time-varying social discount rates have emerged. These rationales range from the ad hoc to the formal, with some founded solely in economic theory while others reflect principles of ...
Ben Groom +3 more
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Setting Carbon Taxes using Declining Discount Rates: Implications for Investment-Based Mitigation
Strategic Behavior and the Environment, 2020Setting Carbon Taxes using Declining Discount Rates: Implications for Investment-Based ...
Matthew E. Oliver +2 more
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Optimal Rotation under Continually – or Continuously – Declining Discount Rate
2008It has been argued from a number of perspectives that the discount rate might decline with increasing period of discounting. With a stepped profile of decline, financially optimal rotations are quite likely to occur at a few discrete ages. For any form of declining discount rate, successor rotations will lengthen, and this will affect the optimal ...
Price, Colin, Price, Colin
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Declining DiscountRate Estimate in the Long-Term Economic Evaluation of Environmental Projects
Journal of Environmental Accounting and Management, 2020The decision-making processes regarding projects with long-term environmental implications are strongly influenced by the estimate of the Social Discount Rate (SDR). An economic parameter that makes it possible to compare financially the Cash Flows (CFs) that occur at different time points, in the discounting the SDR reduces excessively the costs and ...
Nestico', Antonio, Maselli, Gabriella
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Time-declining risk-adjusted social discount rates for transport infrastructure planning
Transportation, 2017This paper proposes a social discount rate for transport infrastructure project evaluation in Germany that accounts for production efficiency, systematic traffic demand risk, as well as increasing uncertainty in the long-run. The systematic risk in infrastructure planning is measured by the sensitivity of transport volume towards GDP using ...
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Implications of declining discount rates: Climate Change Policy in the UK [PDF]
, 2007 Discussions about applied Cost Benefit Analysis are incomplete without the thorny issue of discounting emerging at some point. Indeed, since the calculation of Net Present Values (NPV), and hence the efficiency of a project or policy, hinges so crucially upon the level of the discount rate applied across time, the analysis of time preference and ...
Groom, Ben +3 more
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2019
In the cost-benefit analysis (CBA), the declining discount rate (DDR) certainly allows to assign the right weight for the long-term effects of investment projects. The DDR gives the opportunity to properly evaluate projects for sustainable development in the water and energy sectors.
Nesticò, Antonio, Maselli, Gabriella
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In the cost-benefit analysis (CBA), the declining discount rate (DDR) certainly allows to assign the right weight for the long-term effects of investment projects. The DDR gives the opportunity to properly evaluate projects for sustainable development in the water and energy sectors.
Nesticò, Antonio, Maselli, Gabriella
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Impacts of declining discount rates on optimal harvest age and land expectation values
Journal of Forest Economics, 2018Abstract Several national governments now require the discount rate for public projects with long planning horizons to decrease over the life of a project. Theoretical results that characterize the impacts of a declining discount rate on optimal harvest age and land expectation values in the Faustmann Model are presented.
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A probabilistic model for the estimation of declining discount rate
2020In the Cost-Benefit Analysis (CBA) the traditional discount procedures determine a significant contraction of the financial terms that are furthest over time. This contraction is not acceptable in the economic evaluation of public projects with inter-generational effects, since it causes little appreciation of the net benefits for the future ...
Maselli G., Nestico' A.
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Governments Should Not Use Declining Discount Rates in Project Analysis [PDF]
, 2015 A number of governments have already adopted the policy of applying Declining Discount Rates (DDRs) to long lived projects, a move that could affect public sector investment decisions. Arguments for the use of Declining Discount Rates are based on the consideration of uncertainty, both for discount rates derived from social welfare functions, and for ...
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